Disposition of Units. At any time and from time to time prior to the expiration of the Lease Term, any Unit for which the provisions of Section 11.4(a) of the Lease has been satisfied may be disposed of in accordance with the provisions of Section 11.4(a) of the Lease, and the Owner Trustee shall, from time to time, direct the Indenture Trustee to, provided no Lease Event of Default shall have occurred and be continuing, execute and deliver to it, or as directed in writing by the Owner Trustee, an appropriate instrument furnished by the Owner Trustee or the Lessee releasing such Unit from the Lien of the Indenture, but only in respect of such Unit.
Appears in 4 contracts
Samples: Trust Indenture and Security Agreement (Union Tank Car Co), Trust Indenture and Security Agreement (Gatx Rail Corp), Trust Indenture and Security Agreement (Union Tank Car Co)
Disposition of Units. At any time and from time to time prior -------------------- to the expiration of the Lease Term, any Unit for which the provisions of Section 11.4(a) of the Lease has have been satisfied may be disposed of in accordance with the provisions of Section 11.4(a) of the Lease, and the Owner Trustee shall, from time to time, direct the Indenture Trustee to, provided no Lease Event of Default shall have occurred and be continuing, execute and deliver to it, or as directed in writing by the Owner Trustee, an appropriate instrument furnished by the Owner Trustee or the Lessee releasing such Unit from the Lien of the Indenture, but only in respect of such Unit.
Appears in 1 contract
Samples: Trust Indenture and Security Agreement (General American Railcar Corp Ii)
Disposition of Units. At any time and from time to -------------------- time prior to the expiration of the Lease Term, any Unit for which the provisions of Section 11.4(a) of the Lease has been satisfied may be disposed of in accordance with the provisions of Section 11.4(a) of the Lease, and the Owner Trustee shall, from time to time, direct the Indenture Trustee to, provided no Lease Event of Default shall have occurred and be continuing, execute and deliver to it, or as directed in writing by the Owner Trustee, an appropriate instrument furnished by the Owner Trustee or the Lessee releasing such Unit from the Lien of the Indenture, but only in respect of such Unit.
Appears in 1 contract
Samples: Trust Indenture and Security Agreement (Gatx Rail Corp)
Disposition of Units. At any time and from time to time -------------------- prior to the expiration of the Lease Term, any Unit for which the provisions of Section 11.4(a) of the Lease has have been satisfied may be disposed of in accordance with the provisions of Section 11.4(a) of the Lease, and the Owner Trustee shall, from time to time, direct the Indenture Trustee to, provided no Lease Event of Default shall have occurred and be continuing, execute and deliver to it, or as directed in writing by the Owner Trustee, an appropriate instrument furnished by the Owner Trustee or the Lessee releasing such Unit from the Lien of the Indenture, but only in respect of such Unit.
Appears in 1 contract
Samples: Trust Indenture and Security Agreement (General American Railcar Corp Ii)
